Several Transactions Are Listed

question 104

Multiple Choice

Several transactions are listed. Use the choices to identify the effect on the accounting equation for each transaction listed. (Choices may be used more than once.)
-purchasing insurance

• A)assets and liabilities increase
• B)assets and contributed capital increase
• C)assets and retained earnings increase
• D)two asset accounts are impacted, but there is no net effect on total assets
• E)assets and liabilities decrease
• F)assets and retained earnings decrease
• G)liabilities increase and retained earnings decrease
• H)liabilities decrease and retained earnings increase

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Definitions:

Title Bar

The horizontal bar at the top of a window in a graphical user interface that displays the name of the application or document.

Required Property

An attribute that must be set for an object or data field to ensure the proper operation of a program or database.

Validation Rule Property

A characteristic in database management systems that allows setting rules which data entries must meet to be accepted into the database.

$0.00

A numerical value representing no cost or a zero currency amount in financial contexts.